Oracle Care Limited - Period Ending 2020-11-30
Oracle Care Limited - Period Ending 2020-11-30
Registration number:
for the Period from 10 July 2020 to
Oracle Care Limited
Contents
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Company Information |
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Directors' Report |
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Strategic Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Oracle Care Limited
Company Information
|
Directors |
K Justice C Kashyap J Barlow E Brownlees P Jarrett S B Nowakiewicz |
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Registered office |
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Auditors |
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Oracle Care Limited
Directors' Report for the Period from 10 July 2020 to 30 November 2020
The directors present their report and the financial statements for the period from 10 July 2020 to 30 November 2020.
Directors of the company
The directors who held office during the period were as follows:
Financial instruments
Objectives and policies
The company is exposed to the usual credit and cash flow risk associated with selling on credit and manages this through credit control procedures. The board constantly monitor the company's trading results and revises projections as appropriate to ensure that the company can meet its future obligations as they fall due.
Price risk, credit risk, liquidity risk and cash flow risk
The company is exposed to the usual credit and cash flow risks associated with selling on credit and manages this through credit control procedures.
The company has sufficient resources available and the directors have prepared forecasts for the next 12 months that indicate that this continue to be the case and that these cash flows will be sufficient for the company to meet its financing commitments as they fall due. The directors therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future and have continued to adopt the going concern basis in preparing the financial statements.
Employment of disabled persons
The company's policy is to consider the recruitment of disabled workers for those vacancies that they are able to fill. All necessary assistance with initial training is given. Once employed, a career plan is developed as to ensure suitable opportunities for each disabled person. Arrangements are made, wherever possible, for retraining employees who become disabled, to enable them to perform work identified as approippriate to their aptitudes and abilities.
Employee involvement
The company encourages the involvement of employees in its management through regular departmental meetings.
Future developments
The external environment is expected to remain competitive going forwards, however, the directors remain confident that the company will continue to improve its current level of performance in the future.
Disclosure of information to the auditors
Each director has taken the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Oracle Care Limited
Directors' Report for the Period from 10 July 2020 to 30 November 2020
Reappointment of auditors
Hazlewoods LLP have expressed their willingness to continue in office.
Approved by the
Director
Oracle Care Limited
Strategic Report for the Period from 10 July 2020 to 30 November 2020
The directors present their strategic report for the period from 10 July 2020 to 30 November 2020. The comparative period is for the period from 1 April 2019 to 9 July 2020.
Principal activity
The principal activity of the company is the provision of integrated specialist education, therapeutic and care services designed to support young people aged between ten and eighteen.
Fair review of the business
The results for the period, which are set out in the profit and loss account, show turnover of £3,360,993, (9 July 2020 - £9,327,989) and an operating profit before exceptional items of £809,195 (9 July 2020 - £1,326,918).
The company had tangible fixed assets in the financial statements at net book value amounting to £381,299 (9 July 2020 - £3,959,485). The directors consider the results for the period and the financial position of the company at the period end to be satisfactory.
Given the nature of the business, the company's directors are of the opinion that key performance indicators are important. The company uses a number of indicators to monitor and improve development, performance or the position of the business. Indicators are reviewed and altered to meet changes both in the internal and external environments. The directors do not consider the inclusion of an analysis using key performance indicators to be necessary to assist users of the financial statements in their understanding of the financial performance or position of the company.
Principal risks and uncertainties
The management of the business and the execution of the group's strategy are subject to a number of risks. The key business risks and uncertainties affecting the company are considered to relate to the continued provision of adequate government funding and the ongoing compliance with current and future legislation affecting the sector.
Approved by the
Director
Oracle Care Limited
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report, Strategic Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• | select suitable accounting policies and apply them consistently; |
• | make judgements and accounting estimates that are reasonable and prudent; |
• | state whether applicable UK Accounting Standards has been followed, subject to any material departures disclosed and explained in the financial statements; and |
• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Oracle Care Limited
Independent Auditor's Report to the Members of Oracle Care Limited
Opinion
We have audited the financial statements of Oracle Care Limited (the 'company') for the period from 10 July 2020 to 30 November 2020, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 30 November 2020 and of its profit for the period then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Oracle Care Limited
Independent Auditor's Report to the Members of Oracle Care Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Strategic Report and Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors’ remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Oracle Care Limited
Independent Auditor's Report to the Members of Oracle Care Limited
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Windsor House
Bayshill Road
GL50 3AT
Oracle Care Limited
Profit and Loss Account for the Period from 10 July 2020 to 30 November 2020
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Note |
10 July 2020 to 30 November 2020 |
1 April 2019 to 9 July 2020 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
|
|
|
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Administrative expenses |
( |
( |
|
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Operating profit before exceptional items |
|
|
|
|
Exceptional items |
(184,494) |
(700,564) |
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|
Operating profit |
624,701 |
626,354 |
|
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Interest payable and similar charges |
( |
( |
|
|
Profit/(loss) before tax |
|
( |
|
|
Taxation |
( |
|
|
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Profit/(loss) for the financial period |
|
( |
The above results were derived from continuing operations.
The company has no other comprehensive income for the period.
Oracle Care Limited
(Registration number: 05618803)
Balance Sheet as at 30 November 2020
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Note |
30 November 2020 |
9 July 2020 |
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Fixed assets |
|||
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Tangible assets |
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Current assets |
|||
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Debtors: Amounts falling due within one year |
9,203,830 |
5,075,356 |
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Cash at bank and in hand |
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|
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Total equity |
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Approved and authorised by the
Director
Oracle Care Limited
Statement of Changes in Equity for the Period from 10 July 2020 to 30 November 2020
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Share capital |
Share premium |
Profit and loss account |
Total |
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At 10 July 2020 |
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Profit for the period |
- |
- |
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At 30 November 2020 |
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Share capital |
Share premium |
Profit and loss account |
Total |
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At 1 April 2019 |
|
|
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Loss for the period |
- |
- |
( |
( |
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At 9 July 2020 |
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Oracle Care Limited
Notes to the Financial Statements for the Period from 10 July 2020 to 30 November 2020
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General information |
The company is limited by shares and is incorporated and domiciled in England and Wales.
The address of its registered office is:
England
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Summary of disclosure exemptions
The company has not presented a cash flow statement on the grounds that the company is a wholly owned subsidiary and a group cash flow statement is included in the financial statements of the ultimate parent company.
Name of parent of group
These financial statements are consolidated in the financial statements of Picnic Topco Limited.
The financial statements of Picnic Topco Limited may be obtained from Companies House.
Disclosure of long or short period
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Judgements and estimation uncertainty
These financial statements do not contain any significant judgements or estimation uncertainty. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Oracle Care Limited
Notes to the Financial Statements for the Period from 10 July 2020 to 30 November 2020
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Freehold buildings |
1% on cost |
|
Furniture, fittings and equipment |
25-33% on cost |
|
Motor vehicles |
25% on cost |
|
Freehold land |
Not depreciated |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All debtors are repayable within one year and are hence included at the undiscounted amount of the cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Oracle Care Limited
Notes to the Financial Statements for the Period from 10 July 2020 to 30 November 2020
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
|
Turnover |
The total turnover of the company has been derived from its principal activity wholly undertaken in the United Kingdom.
Oracle Care Limited
Notes to the Financial Statements for the Period from 10 July 2020 to 30 November 2020
|
Operating profit |
Arrived at after charging
|
10 July 2020 to 30 November 2020 |
1 April 2019 to 9 July 2020 |
|
|
Depreciation expense |
|
|
|
Operating lease expense - property |
|
|
|
Operating lease expense - other |
(3,901) |
17,663 |
|
Auditor's remuneration - The audit of the company's annual accounts |
6,750 |
8,000 |
|
Exceptional items |
|
10 July 2020 to 30 November 2020 |
1 April 2019 to 9 July 2020 |
|
|
Exceptional expenses |
184,494 |
700,564 |
Exceptional expenses comprised of non-recurring staff costs of £61,483 (2020 - £594,444), the loss on sale of an asset of £nil (2020 - £35,871), pre-opening costs £30,418 (2020- £Nil) and other non recurring costs of £92,593 (2020 - £70,249).
|
Interest payable and similar expenses |
|
2020 |
2020 |
|
|
Interest on bank overdrafts and borrowings |
- |
|
|
Interest expense on other finance liabilities |
|
|
|
|
|
Oracle Care Limited
Notes to the Financial Statements for the Period from 10 July 2020 to 30 November 2020
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
10 July 2020 to 30 November 2020 |
1 April 2019 to 9 July 2020 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the period, analysed by category was as follows:
|
10 July 2020 to 30 November 2020 |
1 April 2019 to 9 July 2020 |
|
|
Administration and support |
|
|
|
Care |
|
|
|
|
|
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Directors' remuneration |
The directors' remuneration for the period was as follows:
|
2020 |
2020 |
|
|
Remuneration |
- |
|
During the period the number of directors who were receiving benefits and share incentives was as follows:
|
2020 |
2020 |
|
|
Accruing benefits under money purchase pension scheme |
- |
|
In respect of the highest paid director:
|
2020 |
2020 |
|
|
Remuneration |
- |
|
Following the acquisition in the period, the directors are now remunerated by a fellow group undertaking.
|
Auditors' remuneration |
|
2020 |
2020 |
|
|
Audit of the financial statements |
|
|
Oracle Care Limited
Notes to the Financial Statements for the Period from 10 July 2020 to 30 November 2020
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
10 July 2020 to 30 November 2020 |
1 April 2019 to 9 July 2020 |
|
|
Current taxation |
||
|
UK corporation tax |
( |
- |
|
UK corporation tax adjustment to prior periods |
- |
( |
|
(131,918) |
(1,754) |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
( |
|
Arising from previously unrecognised tax loss, tax credit or temporary difference of prior periods |
131,918 |
- |
|
Total deferred taxation |
|
( |
|
Tax expense/(receipt) in the income statement |
|
( |
The tax on profit before tax for the period is lower than the standard rate of corporation tax in the UK (2020 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2020 |
2020 |
|
|
Profit/(loss) before tax |
|
( |
|
Corporation tax at standard rate |
|
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Deferred tax credit relating to changes in tax rates or laws |
- |
( |
|
Tax (decrease)/increase from effect of capital allowances and depreciation |
( |
|
|
Tax decrease from other short-term timing differences |
( |
( |
|
Tax increase from effect of unrelieved tax losses carried forward |
|
- |
|
Other tax effects for reconciliation between accounting profit and tax expense (income) |
- |
( |
|
Total tax charge/(credit) |
|
( |
Deferred tax
Deferred tax assets and liabilities
|
30 November 2020 |
Asset |
|
Fixed asset timing differences |
|
|
Short-term timing differences |
|
|
Tax losses carried forward |
- |
|
22,046 |
Oracle Care Limited
Notes to the Financial Statements for the Period from 10 July 2020 to 30 November 2020
|
9 July 2020 |
Asset |
|
Fixed asset timing differences |
( |
|
Short-term timing differences |
- |
|
Tax losses carried forward |
|
|
251,435 |
Oracle Care Limited
Notes to the Financial Statements for the Period from 10 July 2020 to 30 November 2020
|
Tangible assets |
|
Freehold buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
|
|
Cost |
||||
|
At 10 July 2020 |
|
|
|
|
|
Additions |
- |
|
|
|
|
Transfers |
( |
- |
- |
( |
|
At 30 November 2020 |
- |
|
|
|
|
Depreciation |
||||
|
At 10 July 2020 |
|
|
|
|
|
Charge for the period |
- |
|
|
|
|
Transfers |
( |
- |
- |
( |
|
At 30 November 2020 |
- |
|
|
|
|
Carrying amount |
||||
|
At 30 November 2020 |
- |
|
|
|
|
At 9 July 2020 |
|
|
|
|
Freehold land and buildings included land of £nil (9 July 2020 - £735,914) which is not subject to depreciation.
|
Debtors |
|
Note |
30 November 2020 |
9 July 2020 |
|
|
Trade debtors |
|
|
|
|
Amounts owed by group undertakings |
8,377,367 |
3,808,323 |
|
|
Other receivables |
|
|
|
|
Prepayments |
|
|
|
|
Deferred tax assets |
|
|
|
|
Corporation tax asset |
131,918 |
- |
|
|
|
|
Oracle Care Limited
Notes to the Financial Statements for the Period from 10 July 2020 to 30 November 2020
|
Creditors |
|
Note |
30 November 2020 |
9 July 2020 |
|
|
Due within one year |
|||
|
Trade creditors |
|
|
|
|
Social security and other taxes |
|
|
|
|
Accrued expenses |
|
|
|
|
|
|
||
|
Due after one year |
|||
|
Amounts owed to group undertakings |
7,649,590 |
7,480,076 |
|
Share capital |
Allotted, called up and fully paid shares
|
30 November 2020 |
9 July 2020 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
1,992 |
|
1,992 |
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2020 |
2020 |
|
|
Not later than one year |
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Later than one year and not later than five years |
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Later than five years |
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- |
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Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £
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Contingent liabilities |
The company is bound by an intra-group cross guarantee in respect of bank debt with other members of the group, headed by its parent undertaking at the balance sheet date, Picnic Topco Limited. The amount guaranteed is £34,772,362 (2020 - £25,795,716).
Oracle Care Limited
Notes to the Financial Statements for the Period from 10 July 2020 to 30 November 2020
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Related party transactions |
Summary of transactions with key management
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is